LSV Asset Management Makes New $327,000 Investment in B&G Foods, Inc. (NYSE:BGS)

LSV Asset Management bought a new position in shares of B&G Foods, Inc. (NYSE:BGS) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 40,500 shares of the company’s stock, valued at approximately $327,000. LSV Asset Management owned 0.05% of B&G Foods as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in B&G Foods by 13.4% during the 4th quarter. Vanguard Group Inc. now owns 10,043,164 shares of the company’s stock worth $105,453,000 after acquiring an additional 1,190,116 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in B&G Foods by 11.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,757,114 shares of the company’s stock worth $18,450,000 after acquiring an additional 181,724 shares during the period. Empowered Funds LLC grew its holdings in B&G Foods by 52.4% during the 1st quarter. Empowered Funds LLC now owns 277,940 shares of the company’s stock worth $3,180,000 after acquiring an additional 95,580 shares during the period. Teacher Retirement System of Texas acquired a new stake in B&G Foods during the 4th quarter worth $2,561,000. Finally, Cladis Investment Advisory LLC grew its holdings in shares of B&G Foods by 24.3% in the 4th quarter. Cladis Investment Advisory LLC now owns 46,000 shares of the company’s stock valued at $483,000 after buying an additional 9,000 shares during the period. Institutional investors and hedge funds own 66.15% of the company’s stock.

B&G Foods Price Performance

Shares of NYSE BGS opened at $8.71 on Friday. The firm has a market cap of $688.53 million, a PE ratio of -6.05 and a beta of 0.60. The company has a current ratio of 1.63, a quick ratio of 0.48 and a debt-to-equity ratio of 2.33. B&G Foods, Inc. has a 1-year low of $7.20 and a 1-year high of $11.97. The company has a fifty day moving average price of $8.33 and a 200 day moving average price of $9.48.

B&G Foods (NYSE:BGS) last announced its earnings results on Tuesday, August 6th. The company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. The firm had revenue of $444.60 million during the quarter, compared to analyst estimates of $435.83 million. B&G Foods had a negative net margin of 5.82% and a positive return on equity of 8.07%. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.15 EPS. Research analysts predict that B&G Foods, Inc. will post 0.74 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Monday, September 30th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, September 30th. This represents a $0.76 annualized dividend and a yield of 8.73%. B&G Foods’s dividend payout ratio (DPR) is presently -52.78%.

Insiders Place Their Bets

In other B&G Foods news, EVP Jordan E. Greenberg sold 8,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $8.33, for a total transaction of $66,640.00. Following the sale, the executive vice president now directly owns 66,095 shares of the company’s stock, valued at approximately $550,571.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BGS shares. StockNews.com raised shares of B&G Foods from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. Barclays decreased their price target on shares of B&G Foods from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Friday, July 19th. Piper Sandler decreased their price target on shares of B&G Foods from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Evercore ISI raised shares of B&G Foods to a “hold” rating in a report on Wednesday, August 7th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $10.00 price target on shares of B&G Foods in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $8.88.

About B&G Foods

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and household products in the United States, Canada, and Puerto Rico. The company's products include frozen and canned vegetables, vegetables, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, crackers, baking powder and soda, corn starch, nut clusters, and other specialty products.